17 Jan 2014
Flash: USD/CAD a bullish close? - BMO
FXstreet.com (Guatemala) - Stephen Gallo, European Head of Currency Strategy at BMO Capital is bullish for USD/CAD.
Key Quotes:
“The underlying trend for USD/CAD remains firmly bullish within broader 2.5 year ascending channel but we are nearing the upper end of nice one PM divergence builds across time frames highlighting risks of a more pronounced correction”.
“A break above 1.100 next week would delay the retracement scenario, but an extension is seen as limited ahead of 1.110. Suggested range next week: 1.085/1.105”.
Key Quotes:
“The underlying trend for USD/CAD remains firmly bullish within broader 2.5 year ascending channel but we are nearing the upper end of nice one PM divergence builds across time frames highlighting risks of a more pronounced correction”.
“A break above 1.100 next week would delay the retracement scenario, but an extension is seen as limited ahead of 1.110. Suggested range next week: 1.085/1.105”.